SimiGon announces that Haim Yatim, Chief Financial Officer (CFO), will be leaving the Company by the end of October to pursue other interests and has resigned from the Company’s Board with immediate effect.

Efraim Manea will take over Mr Yatim’s responsibilities as CFO and has been appointed to the Board with immediate effect.

Mr Manea, aged 32, joined the Company as its finance controller in June 2008, managing its financial aspects including financial reporting, corporation accounting and tax preparation, budget and forecasting and risk management. He has more than seven years of accounting and management experience and before joining SimiGon served for approximately four years as an Audit Team Manager at Ernst & Young's High-Technology sector. Mr Manea is a Certified Public Accountant and holds a BA in Accounting and Business Administration from the College for Management in Israel.

The Board expresses its gratitude to Haim Yatim for his service to SimiGon and wishes him well in the future.

No other information in respect of Mr Manea’s appointment is required to be disclosed under Schedule Two (g) of the AIM Rules.

30 July 2010


Evolution Securities (NOMAD)
Jeremy Ellis/Chris Clarke - +44 (0)20 7071 4300

View complete announcement on London Stock Exchange Website